Alison Broderick, Chartered Town Planner and Planning Manager at Platinum Property Partners, talks to Property Tribes about the key issues to consider when building an HMO (Houses in Multiple Occupation) portfolio.
Compared to single-occupancy buy-to-let properties, HMOs provide landlords with a high income property investment strategy, but are also subject to more planning, licensing and building regulations.
Investment location, the type of property and number of tenants being catered for are all important factors. Alison recommends that prior to investing in HMOs, landlords should take the time to understand both the national guidelines and local authority standards, which can vary significantly.
She explains how building relationships with key contacts at your local council is critical in finding out what is required to get an HMO approved in different areas and ensure it is operating legally.
Alison also discusses how HMOs are classed differently in terms of planning, licensing and building regulation and how an Article 4 Direction can impact the development of HMOs in certain boroughs, or even single streets.
Find out more by watching the full video and join in the discussion on Property Tribes.
https://www.youtube.com/watch?v=UI0yA1593Qc
